Assuming that oligopolists do not have the opportunity to collude, once they have reached the Nash equilibrium, it
a. is always in their best interest to supply more to the market.
b. is always in their best interest to supply less to the market.
c. is always in their best interest to leave their quantities supplied unchanged.
d. may be in their best interest to do any of the above, depending on market conditions.
c
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A room heater is a ________
A) club good because it is excludable but non-rival in consumption B) club good because it is non-excludable but rival in consumption C) public good because it is non-excludable and non-rival in consumption D) private good because it is excludable and rival in consumption
In the traditional Keynesian model, if the government cuts current taxes
A) the C + I + G + X line will shift down but the aggregate demand curve will not shift. B) the C + I + G + X line will shift down and the aggregate demand curve will shift to the left. C) the C + I + G + X line will shift up and the aggregate demand curve will shift to the right. D) the C + I + G + X line will shift up but the aggregate demand curve will not shift.
Deepening of human capital in the U.S. economy focuses: a. more on additional education and training than on a higher average level of work experience. b. more on a higher average level of work experience than on additional education and training. c. more on the reduction of the cost of capital than on additional training
d. more on increasing the stock of physical capital than on higher education.
A Middle Eastern country has an oil reserve that it can extract for a profit of $60 a barrel today, $65 a barrel in two years, $70 a barrel in three years, and $75 in four years. The current market rate of interest is 7 percent. When should this country tap into its oil reserve to obtain the most profit per barrel in present value terms?
A. Today B. Two years C. Three years D. Four years